MTS Receives Delisting Notice from the New York Stock Exchange

July 14, 2022

MOSCOW, Russia – Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company”) (NYSE: MBT; MOEX: MTSS), Russia’s largest mobile operator and a leading provider of media and digital services, was notified by the New York Stock Exchange (“NYSE”), that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary receipts of the Company (“ADRs”), each representing two ordinary shares of the Company. The NYSE reached the decision to delist the Company’s ADRs pursuant to Section 802.01D of the NYSE Listed Company Manual in light of the Company’s announcement on June 9, 2022 that it had informed JPMorgan Chase Bank, N.A., the depositary under its ADR program, of its intention to terminate the deposit agreement relating to the ADR program (the “Deposit Agreement”) effective as of July 13, 2022. Trading in the Company’s ADRs had been halted since February 28, 2022 and was suspended before the market open on July 13, 2022.

The Company has a right to a review of this determination by a Committee of the Board of Directors of the NYSE. However, MTS does not intend to appeal the determination in light of the current Russian legislation and the decision of the Russian Government Commission on Monitoring Foreign Investment that provides for the continuation of circulation of MTS’s ADRs only until July 12, 2022 (inclusive). Therefore, it is expected the Company’s ADRs will be delisted.

Under the terms of the Deposit Agreement, the conversion of MTS’s ADRs into MTS’s ordinary shares shall be completed within six months after July 12, 2022, i.e., by January 13, 2023.